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Deephaven Reveals Plans to Put Wall Street on the Data-Software Map

Minneapolis, MN - (NewMediaWire) - October 19, 2022 -  Deephaven Data Labs, a US-based data-technology firm, showcases the advantages of data-software firms emerging out of Wall Street, as an alternative to the traditional pathways running through Silicon Valley and tech hyperscalers. Deephaven, a spinout from a quantitative hedge fund, is pioneering an empowering approach to real-time data. In doing so, it is bringing expertise honed over the last twenty years in the East Coast’s automated, electronic markets. 

A plethora of West Coast tech-titans have long dominated the software development space. Deephaven is establishing itself as one of the only Wall Street-sourced firms in the industry. Senior officials from the company underline that by growing up in the trading industry, they gained experience handling real-time data in advance of its popularity in other sectors. Real-time data is becoming highly sought-after by companies looking to make more targeted, data-driven decisions in their operations. In order to meet this demand, Deephaven has developed a unique ‘streaming table’ system. This incorporates state-of-the-art technology that combines elements of tables and events streams – two popular paradigms in data processing. In Deephaven’s case, tables can change in real-time and operations will seamlessly update. 

Deephaven’s CEO and Founder, Peter Goddard, and his colleagues created the technology in 2012 as part of his previous company, Walleye Capital. This quantitative trading firm employs data-driven investment strategies across a range of asset classes and holding periods. When Deephaven evolved into its own company, Goddard and his engineers took the lessons they had learned in the Wall Street trenches to serve a greater variety of use cases.

Now, as part of this announcement, Deephaven is emphasizing its objective to employ its experience in the competitive environment of Wall Street trading to greatly enhance the software development and data technology of other industries. 

Capital markets have embraced digitization and automation since the 1990s, with banks, hedge funds and brokers all being built on the foundation of real-time data. Algorithmic trading, which integrates automation and machine learning to carry out high-frequency orders, has been prevalent for nearly three decades. 

Deephaven is capitalizing on Wall Street’s deep experience with real-time data to deliver efficiencies, enhance experiences, and boost productivity in other industries. Data-driven organizations have been shown to be 23 times more likely to bring in new customers and 19 times more likely to be profitable compared to companies that fail to use data effectively. Deephaven is employing its unique insight into real-time data infrastructure to provide technology for these data-driven opportunities for a greater range of companies. 

“Wall Street’s approach to technology, along with the way in which it operates with real-time data, is a relevant complement to Silicon Valley’s cadre of tech firms. Real-time systems have been our lifeblood for decades, so it’s exciting to be a part of its adoption in other industries,” outlines Peter Goddard. 

Media Contact:
Name: Deephaven Data Labs+1 (855) 828-8445